Sei Investments Co. raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,482 shares of the oil and gas company’s stock after acquiring an additional 5,223 shares during the period. Sei Investments Co.’s holdings in Helmerich & Payne were worth $828,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of HP. CI Investments Inc. purchased a new position in shares of Helmerich & Payne in the 3rd quarter worth about $36,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $59,000. Glenmede Trust Co. NA increased its position in shares of Helmerich & Payne by 30.1% during the 2nd quarter. Glenmede Trust Co. NA now owns 3,258 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 754 shares during the last quarter. CWM LLC grew its position in shares of Helmerich & Payne by 28.3% during the 3rd quarter. CWM LLC now owns 4,119 shares of the oil and gas company’s stock worth $60,000 after buying an additional 909 shares in the last quarter. Finally, Ellevest Inc. lifted its stake in shares of Helmerich & Payne by 25.8% during the 3rd quarter. Ellevest Inc. now owns 4,781 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 980 shares during the last quarter. Hedge funds and other institutional investors own 82.13% of the company’s stock.
In other news, VP Michael Lennox sold 2,160 shares of the company’s stock in a transaction that occurred on Monday, December 7th. The stock was sold at an average price of $24.03, for a total value of $51,904.80. Following the sale, the vice president now directly owns 25,912 shares in the company, valued at approximately $622,665.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 5,890 shares of company stock valued at $122,235 in the last three months. 4.54% of the stock is owned by insiders.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 18th. The oil and gas company reported ($0.74) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.06. Helmerich & Payne had a negative return on equity of 2.80% and a negative net margin of 27.88%. The business had revenue of $208.27 million during the quarter, compared to the consensus estimate of $212.37 million. During the same period last year, the firm earned $0.38 earnings per share. Sell-side analysts predict that Helmerich & Payne, Inc. will post -2.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 12th will be paid a $0.25 dividend. The ex-dividend date is Thursday, February 11th. This represents a $1.00 dividend on an annualized basis and a yield of 4.32%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -116.28%.
Several brokerages have commented on HP. JPMorgan Chase & Co. lowered Helmerich & Payne from an “overweight” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a report on Friday, December 18th. They noted that the move was a valuation call. Royal Bank of Canada boosted their target price on Helmerich & Payne from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, November 23rd. Bank of America cut Helmerich & Payne from a “neutral” rating to an “underperform” rating and set a $23.00 target price on the stock. in a research report on Monday, December 7th. Rowe increased their target price on Helmerich & Payne from $18.00 to $25.00 and gave the company a “positive” rating in a report on Monday, November 23rd. Finally, Smith Barney Citigroup lowered Helmerich & Payne from a “neutral” rating to a “sell” rating and raised their price objective for the company from $19.00 to $20.00 in a research report on Tuesday, December 15th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $22.16.
Helmerich & Payne Company Profile
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.
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